Wednesday's Analysts' Upgrades, Downgrades
Change in Ratings
Aflac
(AFL) - Get Report
downgraded at UBS to neutral rating from buy. However, price target lifts to $73 from $72 and 2008 EPS estimates rise to $4.67 from $4.53.
Crocs
(CROX) - Get Report
downgraded at JPMorgan from overweight to neutral, JPMorgan said. There's risk to first-quarter guidance, because of weak U.S. sales.
Dick's Sporting Goods
(DKS) - Get Report
downgraded at UBS to neutral rating from buy. Price target cut to $29 from $35 while fiscal year 2009 EPS estimates hold at $1.45.
Expeditors
(EXPD) - Get Report
downgraded at UBS to neutral rating from buy. Price target and fiscal year 2008 EPS estimates hold at $48 and $1.41, respectively.
Forest Oil
(FST)
upgraded at Jefferies to buy rating from hold. Price target jumps to $63 from $50 while 2008 EPS estimates dip to $2.60 from $2.66.
Philip Morris
(PM) - Get Report
coverage initiated at Goldman Sachs with a buy rating based on healthy top-line growth, margin improvement driven by cost savings and balance sheet strength. Believe premium valuation to tobacco peers is warranted. Price target at $60.
State Street
(STT) - Get Report
downgraded at KBW from outperform to market perform. Company facing difficult comparisons in the second half of the year. $90 price target.
UST
(UST) - Get Report
downgraded at Goldman Sachs to neutral from buy based on limited upside relative to tobacco peers (
Altria
(MO) - Get Report
and Philip Morris). Remain constructive on stock as premium brand trends remain strong and company steps up share repurchases. Price target at $62.
This article was written by a staff member of TheStreet.com Ratings.